Crisis Management

Crisis word itself means disaster or an unlikely incident which harms the smooth working of a home, organization, institution or any place for that matter. Crisis can be termed as a problem which usually sudden and which puts a heavy impact on a business.

Crisis Management has become a formal subject in Management studies. If we take a look at the current economic scenario of the world, we can say that the world is going through a crisis. Managing Crises is not an easy task. One has to be quick in finding a solution to a crisis and has to be very fast in the Root Cause analysis of the crisis.

Organizations should always have a back up plan to avoid certain crises scenarios. A fire can be averted by being ready to fight a fire right from the establishment of the organizational infrastructure.
People Management policies should be in place and should be effective to avoid a crisis of labor.
Risk Management strategies and back up should be well in place to avoid any operational crisis.
In all, an organization should have a road map ready for crisis management along with the operational road map. There are certain uncertainties in any business. But there are some methods that can re-structure the business in case of a crisis. There has to be a business continuity plan in place to minimize the affect one a crisis has already hit an organization.

Satyam Computers, India can be the best latest case study for a Crisis management paper. It is really appreciable to see how the Government of India bailed out Satyam Computers from crisis after Chairman Mr. Ramalinga Raju confessed to a $2billion fraud. Today Satyam Computers India has stood back again on its feet and has been taken over by another Indian IT Giant, Tech Mahindra.

Linus Orakles
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